Rolex Rings IPO: This IPO got 108 times subscription, the market rolled on the last day of the week

Rolex Rings IPO: This IPO got 108 times subscription, the market rolled on the last day of the week

In the last trading session of the week, the Sensex closed at 52586 with a fall of 66 points. Today was the last day of subscription for Rolex Rings IPO. It got 108 times subscription.

The market closed with a fall due to global reasons.

The initial public offering (Rolex Rings IPO) of auto parts maker Rolex Rings has been subscribed 107.82 times on the last day on Friday, amid overwhelming response from investors. According to the data available with the NSE till 3.30 pm, bids were received for a total of 61,30,15,392 shares under the IPO of Rs 731 crore, while 56,85,556 shares were offered.

The category of Qualified Institutional Buyers (QIBs) was subscribed 127.82 times, the category of non-institutional investors 277.10 times and the category of retail individual investors 23.84 times. The IPO includes a fresh issue of up to Rs 56 crore and an offer for sale of 75 lakh equity shares. The price filed for this offering is Rs.880-900 per share. Here the domestic stock markets fell on Friday and both Sensex and Nifty closed with minor losses.

Sensex down 66 points

Markets came down on selling in bank, financial and metal stocks in the last hour of trading amid a weak trend globally. The 30-share BSE Sensex closed at 52,586.84, down 66.23 points, or 0.13 per cent. The Nifty of the National Stock Exchange also closed at 15,763.05, down 15.40 points, or 0.10 per cent. According to traders, the market remained in a limited range for most of the time during trading. Investors took a cautious approach on the back of a weak global trend. Selling pressure was seen here at the end of trading after the European markets opened in negative territory.

Bajaj Finance is the biggest loser

Bajaj Finance was the biggest loser in the Sensex shares at 2.59 per cent. Apart from this, State Bank of India, Bajaj Finserv, Tata Steel, Asian Paints and Axis Bank were also major losers. On the other hand, Sun Pharma rose the most at 10.06 per cent. It gained momentum after the company reported a net profit of Rs 1,444.17 crore in the June quarter. A year ago, in the same quarter of 2020-21, the company had a net loss of Rs 1,655.60 crore.
Apart from this, other stocks including Tech Mahindra, Power Grid, Bajaj Auto, NTPC and HCL Tech rose up to 7.24 per cent. On a weekly basis, the Sensex fell 388.96 points, or 0.73 per cent, while the Nifty lost 93 points or 0.58 per cent.

The impact of the global trend

Vinod Nair, Head of Research, Geojit Financial Services said, “The domestic equity markets witnessed a one-time rally, supported by stocks of pharmaceutical, pharmaceutical and auto companies. But a weak global trend kept the momentum going. Inflation in the euro area rose to 2.2 per cent year-on-year in July. This exceeds the target of the European Central Bank. This affected the European markets. The situation in the Chinese market also remains critical.

pharma stocks bounce back

“Pharmaceutics bounced back and worries about weak Q1 results allayed as the results of major companies have been in line with market expectations,” he said. Fertilizer companies were also stressed today as Chinese companies have been asked to suspend exports to ensure domestic supply.

FII withdrew 866 crores on Thursday

In other markets of Asia, Shanghai, Hong Kong, Tokyo and Seoul closed in large losses. There was a declining trend in mid-day trading in the major markets of Europe. The rupee exchange rate fell 13 paise to close at 74.42 against the US dollar. Meanwhile, international oil benchmark Brent crude fell 0.21 per cent to 75.89. According to the data available with the stock market, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday. He sold shares worth Rs 866.26 crore.

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